December 4, 2023

Bayview Closes $2.5 Million in C-PACE Financing

Dallas Class-A Office Tower Receives $2.5 Million in Retroactive C-PACE Financing for Renovations

Major upgrade program for 13-story office building uses innovative financing for energy, infrastructure and improvements.

Coral Gables, FL and Dallas, TX (Dec. 4, 2023) – Bayview PACE today announced providing $2.5 million in C-PACE financing for key upgrades to Woodview Tower, a 13-story, 206,000 square-foot Class-A office property at 1349 Empire Central Drive in Northwest Dallas near Love Field airport.

A project of Baltimore-based Pratt Street Capital, Woodview Tower’s key upgrades funded by C-PACE include HVAC, exterior envelope façade, and qualifying tenant improvements.

With unobstructed 360-degree views of downtown Dallas from many floors, Woodview Tower has undergone significant improvements to maintain its competitive advantage in the West Dallas submarket. Its tenant base includes companies in healthcare, non-profit, education, legal, accounting, professional services and more.

Bayview PACE’s C-PACE funding can be utilized for qualifying project improvements and infrastructure across all commercial property types, for both new and recently-completed properties depending on the local state C-PACE program, according to Bayview.

“Owners and developers are seeing tremendous value in applying C-PACE for improvements, repositionings and rehabs for new construction or recently-completed projects,” said Anne Hill, Senior Vice President of Bayview PACE.

According to Coral Gables, FL-based Bayview PACE, its Commercial Property-Assessed Clean Energy financing (C-PACE) offers favorable and cost-effective terms for qualified improvements in energy, lighting, water systems, building envelope and other resiliency components, and it can be applied to new construction as well as renovations.